JEDDAH —The National Commercial Bank (NCB) announced that its net income for the first three quarters of 2018 reached SR8,020 million compared to SR7,242 million for the same period of the previous year, an increase of 10.7%. NCB’s net income for the third quarter reached to SR2,454 million compared to SR2,621 million for the same period of the previous year, an increase of 61.4%.

Saeed Al-Ghamdi, NCB’s Chairman, announced that total operating income increased to SR64,676 million compared to SR61,018 million for the same period of the previous year, an increase of 2.1%. Furthermore, net special commission income reached to SR68,126 million compared to 68,201 million, an increase of 1.3%.

On the other hand, impairment charges for financing losses decreased by SR466 million compared to the same period of the previous year.

Al-Ghamdi added that the bank’s total assets reached SR425 billion compared to SR446 billion at the end of the same period last year an increase of 2.9%. Total shareholders’ equity attributable to equity holders of the bank increased to SR63 billion from SR60 billion in the same period last year, an increase of 0.7%.

Earnings per share grew to SR2.25 compared to SR2.34 at the end of the same period of the previous year.

Financing and advances increased to SR268 billion at the end of the period compared to SR257 billion at the end of the same period last year. Customer deposits reached SR322billion compared to SR303 billion year-over-year. — SG